An Oklahoma federal judge on Tuesday shot down an Internal Revenue Service rule providing Affordable Care Act tax credits to consumers on federally run health exchanges, echoing an earlier D.C. Circuit ruling that the agency regulation contradicts the statute.
Cargill Inc. on Monday was awarded a $9 million verdict by a Nebraska federal jury in its dispute with an Omaha, Nebraska-based beef-packing company that it accused of selling it beef products tainted with E. Coli that put Cargill on the hook for $26 million in costs, including victim settlements.
News Corp. said Tuesday that it has agreed to buy online real estate network Move Inc. in an all cash deal valued at $950 million, sharing a small stake with REA Group Ltd., which is also largely owned by the media conglomerate.
The European Commission on Tuesday told Ireland and Luxembourg that several tax rulings issued to Apple Inc. and Fiat SpA gave them unfair economic advantages, noting in Apple’s case that there appeared to be some “reverse engineering” to determine its subsidiaries’ taxable income.
EBay Inc. said Tuesday that it would spin off its cash-cow PayPal Inc. unit into a publicly traded, multibillion-dollar business all its own, an about-face for the online auction house after it doused activist investor Carl Icahn's push for the move earlier this year.
A New York federal judge on Monday held Argentina in contempt of court for taking steps to evade his orders that bondholders who agreed to debt restructurings can only be paid if holdout hedge funds are also compensated, calling such plans illegal.